Duplex Residential Income
For Sale
$1,375,000
20 MELROSE Street 1, Brooklyn, NY 11206
Two-level residence with private outdoor space, flexible lower-level area, and access to shared rooftop amenities.
Property Size1,485 SF
Price / SF$925.93
Days on Market26
Property Features for 20 MELROSE Street 1
General Information
Standard status
Active
Size
1,485 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
rooftop terrace
lobby
in-unit washer/dryer
private backyard
Building Details
Building Size
1,485 SF
Year Built
2021
Listing Agency:
Corcoran Group
(410) 703-9775
Listed By:
Nicole Elizabeth Schmidlein
(410) 703-9775
Source:
Nilelundgren
Added: Jul 22
Changed: Aug 15
Last Checked: Aug 15 at 1:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Corcoran Group
Investment Insights
Based on property information with market context.
This two-level residential property combines a contemporary interior with substantial private outdoor space. The upper floor includes an open kitchen, dining, and living arrangement, along with two bedrooms and two full bathrooms. Polished concrete flooring, floor-to-ceiling windows, an in-unit washer/dryer, and premium stainless steel appliances add practical and design-focused features. The kitchen also includes a peninsula, custom exhaust hood, Caesarstone surfaces, and copper-finish details.
A 899-square-foot backyard extends from the main living area, while the lower level offers a private entrance, full bathroom, lower terrace access, and adaptable room for office, recreation, media, or gym use. The condominium was built in 2021 and includes a shared rooftop terrace and lobby. Nearby parking options and access to the M, J, and Z subway lines add transportation convenience.
A 899-square-foot backyard extends from the main living area, while the lower level offers a private entrance, full bathroom, lower terrace access, and adaptable room for office, recreation, media, or gym use. The condominium was built in 2021 and includes a shared rooftop terrace and lobby. Nearby parking options and access to the M, J, and Z subway lines add transportation convenience.
Key Highlights
- 1,445 sqft floor‑through duplex with 2 bedrooms and 2 baths
- 899 sqft backyard with direct access from the residence
- Lower level includes a private entrance, full bath, and terrace access
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,336
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$906,720
$906.7K
Cap Rate 7%
$647,657
$647.7K
Cap Rate 9%
$503,733
$503.7K
Market Conditions
NOI Build-Up for 1,485 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$84.1K $56.64/SF
− Vacancy
−$1.7K −$1.13/SF
EGI
$82.4K $55.51/SF
− OpEx
−$37.1K −$24.98/SF
NOI
$45.3K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$906,720
Cap Rate 7%
$647,657
Cap Rate 9%
$503,733
Alternative Uses
Best Use
Apartment 5plus
$647.7K
$566.7K – $755.6K
NOI $45,336 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.23M
$1.08M – $1.43M
NOI $86,071 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,160
Businesses Nearby
Explore this area
Business Placement
Demographics for 11206, NY
91,549
Population
34,838
Households
2.6
Avg Household Size
30
Median Age
36%
College-Educated
77%
High-School Grad
1.4 sq mi
ZIP Area
65,392
Density / Sq Mi
$57,280
Median Household Income
$44,145
Median Earnings
$1,558
Median Rent
$822,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level residence with private outdoor space, flexible lower-level area, and access to shared rooftop amenities.
Where is this residential income property located?
The property is located at 20 MELROSE Street 1 Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: 1,445 sqft floor‑through duplex with 2 bedrooms and 2 baths; 899 sqft backyard with direct access from the residence; Lower level includes a private entrance, full bath, and terrace access
